Muscat: According to preliminary data from the National Center for Statistics and Information, Oman’s gold imports reached RO 372 million, up 17.4% from RO 316.9 million in the same period of 2023. The total imported weight rose to 15,439 kilograms, with the United Arab Emirates dominating as the top exporter, supplying 92.1% of Oman’s gold imports.
On the export front, Omani gold exports jumped 77.7%, reaching RO 63.2 million, with exported weight rising to 2,198 kilograms. The UAE again led the list of importers, followed by the United States, India, and Bahrain.
The real headline, however, is Oman’s stunning 800% increase in gold re-exports, which soared from RO 16.4 million in 2023 to RO 147.3 million in 2024. Re-exported gold weight more than doubled to 5,287 kilograms. Iran emerged as the top destination, receiving 78.6% of the re-exports, followed by the UAE, Turkey, and the United States.
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Despite global market volatility, gold prices in Oman remained stable throughout 2024. The average price per gram stood at:
24-karat gold: RO 30.4
21-karat gold: RO 26.3
18-karat gold: RO 22.4
Oman’s gold and jewellery sector is supported by a robust network of 931 establishments, including retailers, manufacturers, repair shops, and refiners, reinforcing the Sultanate’s status as a rising regional hub in the precious metals trade.
